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EB-5 Immigrant Investor Program

The EB-5 Immigrant Investor Program offers eligible foreign investors a path to U.S. permanent residency by making a qualified investment in a U.S. business that creates jobs for American workers.

Established by Congress in 1990, and expanded in 1992 to include the Regional Center Program, EB-5 enables investors to participate in larger-scale projects through USCIS-designated regional centers that are focused on economic development and job creation.
📖 USCIS: EB-5 Immigrant Investor Program

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Recent Updates & Key Highlights

✅ EB-5 Reform and Integrity Act of 2022 (RIA)

The EB-5 Reform and Integrity Act, signed into law in March 2022, introduced several important changes:

  • Reauthorization of the Regional Center Program
    Extended through September 30, 2027, providing long-term stability for new and current investors.
    📖 USCIS Announcement on RIA

  • New Minimum Investment Amounts

    • $1,050,000 minimum investment in standard areas

    • $800,000 for projects in Targeted Employment Areas (TEAs)
      Investment amounts are subject to inflation-based adjustments every five years. The next adjustment is scheduled for October 1, 2024.
      📖 USCIS: Investment Requirements

  • Integrity Enhancements

    • Establishment of the EB-5 Integrity Fund to enhance fraud detection and compliance.

    • Mandatory annual audits for regional centers.

    • More robust oversight and reporting requirements.
      📖 USCIS: EB-5 Integrity Measures

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Policy Manual Updates

📘 Volume 6, Part G: EB-5 Policy

The USCIS Policy Manual was updated to reflect the new law and outlines how EB-5 petitions are adjudicated. It includes:

  • Eligibility requirements

  • Regional center designation processes

  • Adjudication of Form I-526E and I-829 petitions

  • Investor protections
    📖 USCIS Policy Manual – Volume 6, Part G

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Investor Protections

🙌 Good Faith Protections for Investors

Investors who file in good faith are protected, even if a regional center or associated entity is later terminated or sanctioned. This ensures that compliant investors are not unfairly penalized.
📖 USCIS EB-5 Good Faith Guidance

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Oversight and Compliance

  • Annual Integrity Fund Fees
    Regional centers must pay annual fees to support oversight efforts. Non-payment by December 30, 2024 may lead to termination.
    📖 USCIS: EB-5 Integrity Fund Requirements

  • USCIS Audits
    Beginning April 23, 2024, USCIS audits all designated regional centers using Generally Accepted Government Auditing Standards (GAGAS). These audits help maintain program integrity.
    📖 USCIS: EB-5 Regional Center Audits

For investors looking to participate in the EB-5 program through a qualified regional center, our team is here to guide you through the process and help identify the right opportunities aligned with your goals.

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EB-5 Job Creation Requirements

One of the core requirements of the EB-5 program is that your investment must help create at least 10 full-time jobs for qualified U.S. workers. These jobs must be created within two years of the investor receiving conditional permanent residency.

📖 USCIS EB-5 Job Creation Requirements

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💼 Job Creation Criteria

To qualify, your EB-5 investment must be made in a new commercial enterprise (NCE) that creates jobs in one of two ways:

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1. Direct Job Creation

For investments not affiliated with a regional center, the 10 jobs must be created directly by the new commercial enterprise (or its wholly owned subsidiaries).

  • These jobs require a direct employer-employee relationship between the NCE and the workers.

  • The NCE must itself employ the qualifying individuals.​

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2. Indirect Job Creation (Regional Centers)

For investments made through a USCIS-designated regional center, jobs may be counted directly or indirectly:

  • Direct Jobs: Created by the NCE itself.

  • Indirect Jobs: Created as a result of the NCE’s investment — for example, jobs generated in the supply chain, construction, or services supporting the business.

📖 USCIS: Regional Center Job Creation

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🏚️ Job Preservation in Troubled Businesses

EB-5 investors can also meet the job requirements through job maintenance if they are investing in a troubled business.

  • You must show the business will maintain the same number of existing jobs (at or above pre-investment levels) for at least two years.

  • A troubled business is defined as one that:

    • Has existed for at least two years, and

    • Has incurred a net loss of at least 20% of its net worth over the 12- or 24-month period prior to the EB-5 petition filing.

📖 USCIS: Troubled Business Guidelines

 

👥 Who Qualifies as an Employee?

A qualifying employee must be:

  • A U.S. citizen

  • A lawful permanent resident (green card holder)

  • Or another immigrant authorized to work in the U.S., including:

    • Conditional residents

    • Asylees and refugees

    • Certain other documented immigrants

❌ Not included: The EB-5 investor, their spouse or children, or any foreign national who is in the U.S. on a nonimmigrant visa (e.g., H-1B) or unauthorized to work.

📖 USCIS: Employee Qualifications

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⏱️ What Counts as Full-Time?

Full-time employment means:

  • A position requiring a minimum of 35 working hours per week.

  • For regional center investments, this can include indirect jobs that meet the same time requirement.

📖 USCIS: Full-Time Employment Definition​​​

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  • EB-5 Immigrant Investor Program Overview
    https://www.uscis.gov/working-in-the-united-states/permanent-workers/eb-5-immigrant-investor-program

  • USCIS Policy Manual – Volume 6, Part G, Chapter 2: Eligibility Requirements
    https://www.uscis.gov/policy-manual/volume-6-part-g-chapter-2

  • Regional Center Program Details
    https://www.uscis.gov/policy-manual/volume-6-part-g-chapter-4

  • EB-5 Reform and Integrity Act of 2022 – USCIS Update
    https://www.uscis.gov/newsroom/alerts/eb-5-regional-center-program-authorization-and-changes

  • EB-5 Integrity Fund and Audit Program
    https://www.uscis.gov/eb-5-integrity-fund
    https://www.uscis.gov/working-in-the-united-states/permanent-workers/employment-based-immigration-fifth-preference-eb-5/eb-5-immigrant-investor-regional-centers/eb-5-regional-center-audits

  • Good Faith Investor Protections
    https://www.uscis.gov/newsroom/alerts/uscis-updates-policy-manual-to-clarify-procedures-for-eb-5-regional-center-program

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© 2025 SDEB5RC, LLC

Disclaimer: The information provided in these materials for San Diego EB-5 Regional Center (“SDEB5RC”) or in any communication or other materials containing a website link to CAEB5.com is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to applicable law or regulation. Neither the information nor any opinions or views expressed herein constitutes an offer to sell securities or the solicitation of an offer to buy securities, nor shall there be any offer or sale of securities in any jurisdiction where such offer, solicitation or sale is not permitted. Any offer of securities in any project may only be made pursuant to a written private placement memorandum and other documents, as evidenced by a properly executed subscription agreement, and only then as permitted by applicable securities laws.

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